Compass Diversified Q1 2023 Earnings Report
Key Takeaways
Compass Diversified reported a 6% increase in net sales, reaching $542.2 million, and a net income of $109.6 million, primarily due to the $98.0 million gain on the sale of Advanced Circuits. The company has raised its full-year outlook for Adjusted EBITDA to between $430 million and $460 million.
Net sales increased by 6% to $542.2 million, or 1% on a pro forma basis.
Branded consumer pro forma net sales rose by 2% to $365.6 million.
Net income was $109.6 million, compared to $29.7 million, boosted by a $98.0 million gain from the sale of Advanced Circuits.
Adjusted EBITDA increased by 11% to $91.9 million.
Compass Diversified
Compass Diversified
Compass Diversified Revenue by Segment
Forward Guidance
Compass Diversified raised its Adjusted EBITDA outlook for the full year 2023 to between $430 million and $460 million and Adjusted Earnings outlook to between $110 million and $135 million.